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Nest pension
Is nest pension a good scheme? Does it just pay a lump sum? Can I have annuity? if paid monthly at retirement.
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A Pension Newbie
Hi All, To be honest, I have never bothered looking into my pension. Worked for the same company these past 34 years and that was where my life was concentrated. However, I have just been made redundant, so now, at 58 I need to examine my pension options. I will be basically debt free. House paid off etc etc. If I take my…
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Old Pension Agreement
I’ve just spoken with an independent pensions advisor. He’s sent me the paperwork relating to a very old inflexible pension I took out back in the 80s. Apparently the government currently agree to pay a certain amount into it if I were to transfer it to a modern flexible pension - however the government “apparently” has…
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Opted out sometime in late 1980's and need to track down my pension as left UK
Hey all Sometime in around 1989/90 my employer had everyone meet with pension advisors. I was about 19 at the time and was just about able to pay my rent so a pension was not at the top of my list of things to start finding money for. However, in the meeting I was advised to opt out as instead of my money being invested by…
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Voluntary State Pension Contributions
It states here https://www.gov.uk/voluntary-national-insurance-contributions "Decide if you want to pay voluntary contributionsVoluntary contributions do not always increase your State Pension. Contact the Future Pension Centre to find out if you’ll benefit from voluntary contributions." Like so many organisations the…
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Self Employed pension query - carry forward rule
Hi all, my wife is self employed and currently has little pension provision and I'm trying to get this built up. I kind of know how the 3 year carried forward rule works , but unsure how it applies if self employed. I realise I can only pay in the limit of what her net profit is likely to be for that year . She has a…
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Pension Performance & Charges Questions
Good morning everyone and looking forward to getting some really useful help and advice from all the great members on this site. I've spent some time just browsing for answers on here last night and was overwhelmed by how helpful people are. Didn't find quite what I looking for so hence my following questions: 1: Both my…
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Proof of identity -original birth certificate
I’m making this request on behalf of a friend who has just received confirmation from trustees that she will be paid a spouses pension. When she made the application to the trustees, they requested a copy of her birth certificate and she provided a certified copy. In the letter which she has just received however, they are…
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Avoiding MPPA
Hi I wonder if I could get a bit of advice to I hope confirm my plans are possible.I am 58 and have one DB pension in payment from the Teachers Pension Scheme. I am still working and paying into the LGPS Scheme. I am also paying £650 a month into Prudential AVCs. I have some previous Prudential AVCs from the Teachers…
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Teachers Pension - Less than 2 years qualifying service.
I was a college lecturer from January 2015 until October 2016 and was a member of the Teachers Pension during that time. The minimum qualifying period for Benefits with the Teachers Pension is two years so I'm trying to find out what's happened, and what to do, with the contributions made during that period. All I can find…
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Scottish Widows to AJ Bell
As I'm leaving work this week (Age 61), I have been mulling over the drawdown options. My current SW Portfolio funds have been less than spectacular and accessing incomes seems painful. I have around 450k and I'm looking to move it to AJ Bell. Costs are similar, but the fund choice within AJ Bell seems a lot better for the…
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Pension fund and transfer plan values. What's the difference?
Hi All, I'm rapidly approaching 55 and have been contacted by the 4 different company's that I have pensions with. Whilst I (probably) have no plans to cash in any of them, I'm a little confused by some of the terminology. The fund value seems less than the transfer (or even plan) value, with the latter 2 being higher.…
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Tax refund looks wrong
I just got a letter from HMRC telling me that I am due a tax refund of over £6k for 2019/20. It is in the usual HMRC format and in a HMRC envelope so I am sure it is genuine and they have said they will send me a cheque in about 2 months or I can phone for a quicker payment I am 67. My incomes on the calculation are a…
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Can't cash in my Royal Mail Pension???
Just spoke the pension team at the Royal Mail as I have a very small pension with them that I wish to cash in, the advisor said that option is not available, I thought all pensions were subject to that option?
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state pension deduction
Hi I have been given an estimate of a small pension of under £8000 from a previous employer. Also mentioned is a State Pension Deduction of between £600 to £700. Excuse my ignorance but is this amount a one off or annual deduction? Thank you for your help
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Transfer DC Pension into Alpha Civil Service?
Hello, I’m due to start a role within the Civil Service in January and have 12 months from that date to transfer any pensions into the scheme. I have built up a pot of about £8.5k worth of DC Pension throughout my previous employers (I’m only 24 years old, hence the low sum). Is it worth transferring this pot into the…
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Post ended
Thanks for responses.
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LGPS and AVC query
Hi first time poster, and hoping someone can throw some light on a general pension planning query I've been mulling, as part of our larger plan, but cant quite find an answer on. Currently we are early to mid 50's and have been building up my wife's AVC's in conjunction with her LGPS pension in recent years, and predict…
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25% Tax Free across DC and DB pension?
Retiring aged 55 with DC pot going into drawdown, crystallising roughly 40% of LTA and taking 25% of crystallised amount tax free. Plan is to hopefully maintain enough remaining LTA to absorb projected DB pension (20x) when taken at age 60. When DC pot and projected DB are combined, the current LTA is materially exceeded…
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Benchmarking employer scheme vs direct and indirect for drawdown
My lengthy saga with a scheme administration transfer into L&G is over. So I can now confirm 2020 scheme facts to choose the route to take. Today was looking at the base case i.e. my new L&G Worksave drawdown option i.e. staying where I am accessing the option arranged by the employer scheme trustees. For my worked example…
